City bankers would rather quit than move to European capitals following Brexit June 6, 2021 Bankers in Canada are prepared to quit their jobs rather than move to other European cities following Brexit. A banker at JP Morgan told the Daily Mail that people were not willing to relocate abroad. “There have been problems – people don’t, and won’t, go to Frankfurt or Paris,” they said. “It’s [...]
Former Barclays boss in line for £200m windfall as Blackrock takes 10x stake June 5, 2021 Former Barclays boss Antony Jenkins is said to be on the brink of a deal that will see his personal wealth surge by £200m as Blackrock funds close in on his new fintech venture. Jenkins, who was ousted as chief executive of Barclays in 2015, is close to selling a stake in 10x Future Technologies [...]
JP Morgan freezes donations to Republicans who contested election June 5, 2021 JP Morgan will resume making donations to US politicians but will snub Republicans who voted to overturn President Joe Biden’s election victory. The Wall Street giant was among a host of corporations that halted political donations following the deadly storming of the Capitol in January, which was spurred on by former president Donald Trump. Hours [...]
Metro Bank bolsters UK call centre operations with new Bristol branch June 4, 2021 Metro Bank has launched a new customer call centre above its Bristol store this week, another bank bolstering its call centre operations in the UK. Delayed slightly due to Covid-19, the opening of the new centre, called AMAZE Direct, has created over 100 jobs. The challenger bank’s shares lifted 2.2 per cent this morning, taking [...]
Chartered Accountants will bring about lasting change by embracing sustainability June 3, 2021 | City Talk Anne Adrain says now is the time for Chartered Accountants to spread their ESG skills throughout the business sector. Environmental, social and governance (ESG) concerns are mainstream and critical to business success. Yet, despite the speed with which customer and investor thinking has evolved, many firms haven’t adapted accordingly. That’s where Chartered Accountants (CAs) come [...]
Deutsche Bank ‘confirms move to adopt hybrid working’ as work-from-home era fades June 1, 2021 Deutsche Bank the latest to adopt hybrid working as work-from-home era fades
UK missed out on £110bn of services exports after Brexit referendum, say wonks June 1, 2021 The UK has lost out on more than £110bn of services exports as a result of the 2016 Brexit referendum, according to a new study from Birmingham’s Aston University. Academics said services exports were £113bn lower between 2016 and 2019 than they would have been if the UK had not voted to leave the EU. [...]
Nationwide to cull 150 mortgage advisers in online shift May 30, 2021 Nationwide will axe up to 150 of its mortgage advisers, as the lender shifts to holding online consultations with borrowers instead of than face-to-face meetings. Many of the 150 mortgage consultants are expected to accept voluntary redundancy, the Mail on Sunday first reported. Nationwide now carries out more than half of its mortgage consultations through [...]
Exclusive: Meet the former UBS and JPMorgan heavyweights shaking up private banking May 28, 2021 As the economy is slowly switching into recovery gear, activity in the City and beyond is starting to pick up again. That is also the case for Vestrata, a relatively new fintech player that is taking the wealth management and private banking space by storm by bring machine learning and automated risk metrics into the [...]
Brexit: ECB to crack down on ‘desk mapping’ in London to drive more bankers and capital to the EU May 27, 2021 The European Central Bank is ramping up efforts to push more management and capital out of the City and Canary Wharf, into the EU. The central banking authority plans to scrutinise and crack down on so-called ‘desk mapping’ – or ‘back-to-back booking’ – to determine whether banks’ key staff, capital and book trades used by [...]